Eide Bailly, North Dakota’s largest audit firm (#24), and Wisconsin based Wipfli (#30) have called off merger plans. A press release, issued jointly on Friday, February 24, 2012, reads:
Executives of Wipfli and Eide Bailly, two prominent accounting and consulting firms that rank among the largest in the country, today announced the firms would not complete a proposed merger. The firms decided not to proceed with the proposed merger and will continue to operate as separate CPA firms.
Eide Bailly managing partner and CEO Jerry Topp and Wipfli managing partner and CEO Rick Dreher said the firms decided to amicably discontinue merger discussions, because they could not come to an agreement on key terms.
“We have tremendous respect for Eide Bailly, its partners and staff,” said Wipfli’s Rick Dreher. “In the end, each firm decided it was more appropriate to remain independent.”
Eide Bailly’s Jerry Topp said, “Wipfli and Eide Bailly are two very successful firms serving distinct markets. We were friendly competitors before, and we will continue to be friendly competitors in the marketplace as we move forward.”
Eide Bailly is a significant employer of graduating accounting majors from Concordia College (Fargo metro area), ProfAlbrecht’s current school.
Debit and credit – - David Albrecht